ANNUAL REPORT

58Middle East Development Singapore ltdannual report 2007NOTES TO FINANCIALSTATEMENTS30 June 20078. INVESTMENTS IN SUBSIDIARIES (Cont’d)Name of subsidiaries, country of incorporation, Percentage Cost of theplace of operations and principal activities of equity held investments2007 2006 2007 2006% % $ $Ampero (M) Sdn Bhd (b) 100 100 96,669 96,669MalaysiaSupply of specialised building materials(Audited by Horwath Malaysia)Hitchins (Malaysia) Sendirian Berhad (b) 100 100 1,068 1,068MalaysiaSupply of specialised buildings materials.(Audited by Horwath Malaysia)Hitchins (Laboratory) Pte Ltd (c) 100 100 2 2SingaporeInactiveThe interests held by the subsidiaries are listed below:3,362,688 3,362,688Name of subsidiaries, country of incorporation, Percentage Cost in books ofplace of operations and principal activities of equity subsidiaries2007 2006 2007 2006% % $ $Hitchins (F.E.) Marketing Pte LtdHelms Industries Pte Ltd (a) 100 100 10,000 10,000SingaporeSupply of specialised building materials.Hitchins-Da Sheng Holdings Pte LtdShanghai Hitchins Da Sheng Waterproofing Materials Co., Ltd (b) 100 100 1,542,247 1,542,247People’s Republic of ChinaManufacture and supply of specialised building materials.(Audited by Horwath China Shanghai)Hitchins International Pte LtdDaku Asia Pte Ltd (a) 75 75 60,001 60,001SingaporeSupply of specialised building materials.(a)(b)(c)Audited by RSM Chio Lim.Other auditors. Audited by firms of accountants other than member firms of RSM International of which RSM Chio Lim inSingapore is a member. Their names are indicated above.Not audited as it is inactive and immaterial.